For the Los Angeles office real estate market, 2016 was the most active year of the past decade. Solid job gains are driving demand across all asset classes, as L.A. County unemployment dropped to 4.7 percent in December 2016, its lowest post-recession rate.

High demand and increased leasing activity in the region are driving prices upward, which in turn attracts investor interest and propels office sales activity. As a result, L.A.’s office market reached new heights in 2016—the highest in the last 10 years.

Our CommercialCafe and Yardi Matrix joint study analyzed commercial office transactions of more than $5 million for office buildings of over 50,000 square feet, from 2012 to 2016, based on Yardi Matrix sales.

Key takeaways:

Year-over-year sales volume climbed to a 10-year high ($9.6B)

The average price per square foot reached a 5-year peak

Blackstone, Douglas Emmett: most active players on the market

Largest sale of the year: Douglas Emmett, QIA snag 4-building portfolio for $1.3B

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